EDMONTON, Alberta, Canada, March 31, 2014; AutoCanada Inc. announced
today that it has obtained approval from General Motors of Canada ("GM
Canada") to purchase an 80% non-voting equity interest in the assets of
McNaught Cadillac Buick GMC ("McNaught"), a Cadillac Buick GMC dealership
located in Winnipeg, Manitoba. The acquisition is expected to close April
1, 2014.

McNaught Cadillac Buick GMC was founded by Mr. Gord McNaught Sr. nearly
four decades ago and is currently operated by his two sons, Mr. Gord
McNaught Jr. and Mr. Andrew McNaught, who will continue to operate the
dealership from its current leased facility which includes a 10 car
showroom, 24 service bays and 10 body shop bays. As part of the purchase
agreement terms, AutoCanada will purchase the dealership facility on or
before March 31, 2016. In 2013, the dealership retailed 593 new vehicles
and 520 used vehicles.

In accordance with the terms of the previously announced ownership
structure for GM dealerships approved by GM Canada, AutoCanada shall
purchase an 80% non-voting equity interest. Mr. Pat Priestner, Chief
Executive Officer of AutoCanada, shall be named Dealer Operator, and,
together with other senior managers, shall purchase a 20% equity interest,
with Mr. Priestner holding 100% voting control of the dealership. The
transaction was reviewed and approved by AutoCanada's independent members
of its Board of Directors.

Commenting on the transaction, Pat Priestner, Chairman and CEO of
AutoCanada stated, "We are very excited to add a fourth dealership to our
Winnipeg platform, a market which has proven to be very good for auto
retail. A new brand for us in Winnipeg and an additional dealership allows
us to continue to build scale in the city. We would like to thank General
Motors of Canada for its continued support of our efforts to expand our
offerings of these highly desirable brands which we believe will continue
to grow in market share. We would also like to welcome the McNaught family,
and all of the McNaught dealership employees, to the AutoCanada family,
with whom we look forward to building a strong and lasting
relationship."

About AutoCanada

AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 34 franchised dealerships in seven
provinces and has over 1,600 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, Fiat, Chevrolet, GMC, Buick, Cadillac,
Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, and Volkswagen branded
vehicles. In 2013, our dealerships sold approximately 36,000 vehicles and
processed approximately 364,000 service and collision repair orders in our
381 service bays during that time.